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Home Equity Loan

Your home is more than just a place to live - it's a valuable financial asset.

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  • No closing costs, No points
  • Low Fixed Rate
  • No Application Fees
No closing costs, No points
Low Fixed Rate
No Application Fees
Flex Equity Line of Credit Home Equity Loan Investment Flex Equity Line of Credit Home Improvement Loans Refi Home Loan Loan Payment Protection

Looking to make your dreams a reality using the equity in your home?

Our Home Equity Loan can help you do just that. You can use the equity to consolidate debt, renovate your kitchen, create a relaxing backyard retreat, or fund college tuition. Your home is more than just a place to live - it's a valuable financial asset. Let us help you make the most of it.

  • Low fixed rate
  • No closing costs, points or application fees*
  • Finance up to 80% of your home’s value**
  • Amounts up to $500,000***
  • Terms up to 20 years

FAQs

A Home Equity Loan provides you with a specific amount of money and has a fixed rate and a fixed term. The  monthly payments include principal and interest.

A Home Equity Line of Credit gives you access to money when you need it. It has a variable rate that will adjust with the Prime Rate. Monthly payments are interest only but you can paydown on the principal at any time. 

Our Flex Equity Line of Credit offers the best of both worlds! It is a Home Equity Line of Credit where you can access money anytime you need it but also, offers you the ability to lock into 2 fixed rate advances at any time! 

Typically, it takes about 3-4 weeks to close on a Home Equity Loan or Line of Credit. 
There are no fees to prepay your Home Equity Loan however, there is a termination fee of $500 or 2% of the loan amount whichever is lessor for loans terminated within two years of origination date.  

Westerly Community Credit Union is a full-service credit union with Rhode Island branches in Westerly, Richmond, Wakefield, and Coventry.

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WCCU helped my wife and I pay off our mortgage. We have been mortgage-free for over a year now and have gained financial freedom.
David I. of Charlestown
We joined right after WCCU opened. Needed a loan to pay off some bills. Everyone is so helpful and always has a smile for you. Always made me feel like part of the family. For me...the WCCU is the only place to bank! Thank you so much for such great service over the many years!
Gerry M. of Westerly
We joined the WCCU many years ago because we really got tired of the big banks with their big fees and lack of community. We stayed because they treated us like we mattered. They valued their members by offering great rates on mortgages and HEQ loans. When my husband became ill, they worked with us until we could get back on our feet. Only small hometown banks offer this type of service.
Deanna C. of Westerly

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See how much you could save just by refinancing and moving your loans to WCCU.

*Flood insurance may be required. Property insurance is required. Consult a tax advisor about the deductibility of interest. Other restrictions may apply. An early termination fee will apply for loans terminated within two years of origination date.

**2nd lien position only. 80% maximum loan to value.

***Maximum loan is $500,000 unless approved by Credit Committee. 

WCCU NMLS ID # 518892. For a list of WCCU employees currently licensed with a NMLS#, visit the NMLS Consumer Access